IPDC attracts over $300M worth of investments in first quarter of 2024/25 FY

Addis Ababa, November 1, 2024 (FBC) – The Industrial Parks Development Corporation (IPDC) today disclosed that it has attracted 300 million USD worth of investments in the first quarter of the current Ethiopian fiscal year.

Some 45 investors have already engaged in various industrial parks managed by the corporation and the free trade zone of Dire Dawa, IPDC indicated.

Deputy CEO of the Corporation’s Investment Promotion and Marketing Department, Zemen Junedi, revealed that various sheds and cultivated land have been already handed over to investors.

IPDC has also attracted significant Foreign Direct Investment from China, Japan and Vietnam, according to the Cooperation.

Most of the investors entered and invested in industrial parks namely Hawassa, Kombolcha, Bole Lemi and Kilinto industrial parks.

The Cooperation further stated that it has recorded remarkable achievements over the past three months as a result of the incentives given by the government to make the investment ecosystem conducive.

The IPDC is currently evaluating the performance of the first 3 months of the 2024/25 fiscal year.

During its performance evaluation, the Cooperation announced on Thursday that it has generated over 26 billion US dollars in export revenue during the first quarter of the current fiscal year.